Purdue Committees Get OK To Join Insurance Suits

Law360 (January 20, 2021, 5:12 PM EST) -- A New York bankruptcy judge Wednesday gave Purdue Pharma and two of its creditor committees permission to file joint actions seeking coverage from the drugmaker's insurance carriers as the company said it is close to filing a Chapter 11 plan.

At a remote hearing U.S. Bankruptcy Judge Robert Drain overrode objections from one of the insurance carriers in question to ratify the deal reached by Purdue, its unsecured creditors and a group of state governments after hearing from Purdue that the drugmaker intends to submit a Chapter 11 plan within a month whether or not it can reach agreement with its...

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